American Shipper

CV International acquires Wilmington-based Waters Shipping Co.

The freight forwarder and customers broker firm will integrate Waters Shipping Co.’s staff and services at its Wilmington, N.C. branch office, CV International said in a statement.

   Norfolk, Virginia-based freight forwarder and customs broker CV International (CVI) has acquired North Carolina-based Waters Shipping Co., the company announced Wednesday.
    Financial terms of the deal were not disclosed. Staff from Waters Shipping Co., an independent customs broker and freight forwarder, will join the CVI team in a Wilmington, N.C. branch office, CVI said.
   “This was a positive development for both of our companies,” CVI president Mike Coleman said of the purchase. “We have known Waters Shipping for a long time. Their business philosophy and unwavering dedication to customer service fits very well with our own. We will be in a unique position to serve importers and exporters with an office strategically located at the Port of Wilmington.”
   Waters Shipping Company President Cathy Chafin stated, “We are looking forward to joining the CVI team and the expanded support we will have to service our customer base. This was a perfect fit both in terms of maintaining quality personalized service and making the international transportation process seamless to our customers.”
   CVI last acquired M & S Shipping, Ltd. of Virginia Beach, Va., in 2016, in a similar fashion.